The global scale of the Internet, the ubiquity of mobile devices, the ever-declining costs of cloud computing and storage, and an increasingly networked physical world create an explosion of data unlike anything we've seen before. “From the very beginning of time until the year 2003,” says Google Executive Chairman Eric Schmidt, “humankind created five Exabyte of digital information. In 2013, five Exabyte are produced every ten minutes”.
Staggering amounts of information are accessible as never before—from proprietary big data to new public sources of open data. Analytical and processing capabilities have made similar leaps with algorithms scattering intelligence across digital networks, themselves often lodged in the cloud. Smart mobile devices make that information and computing power accessible to users around the world.
As these technologies gain momentum, they are profoundly changing the strategic context: altering the structure of competition, the conduct of business, and, ultimately, performance across industries. To stay ahead of the unfolding trends and disruptions, leaders across industries will need to challenge their assumptions and pressure-test their strategies.